ایف بی آر کی پریس ریلیز

FBR denies reports of PSO bail-out fund

A spokesman of the Federal Board of Revenue (FBR) has denied the contents of a news item captioned 'Rs 75bn fund in offing to bail out PSO' and appearing in a section of the press on February 15, 2009.

In a statement, the spokesman has clarified that the report has wrongly attributed the setting up of the bailout package for Pakistan State Oil to the FBR chairman Ahmad Waqar who has been quoted in the reports as having made this during a visit to Korangi Association of Trade and Industry last week. The fact is that the visit was meant to have an interactive session with the business community and the FBR chairman made no statement whatsoever with regard to setting up of a fund for PSO.